Facts and myths of regional development

Abstract
The paper critically discusses several widespread views about regional development and how it can be stimulated by regional policy. It is argued that in the current development paradigm it is neither possible nor expedient to achieve regional convergence, which in effect would lead to a deep change in understanding the very assumptions of the EU Cohesion policy. It is indicated that external stimuli do not lead to an accelerated growth in lagging regions, which is especially true in the case of infrastructural projects, especially those which are related to incidental events, like expositions or sports championships. One of the most broadly used models for an ex ante evaluation - the HERMIN model - is also discussed.